Photronics, Inc. (NASDAQ:PLAB) CEO Sells $421,750.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer now owns 510,850 shares in the company, valued at approximately $12,311,485. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kang Jyh Lee also recently made the following trade(s):

• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.00, for a total transaction of $420,000.00.
• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Performance

Shares of NASDAQ PLAB traded up $0.45 during midday trading on Monday, reaching $24.57. The company’s stock had a trading volume of 516,139 shares, compared to its average volume of 410,147. The company has a market cap of $1.56 billion, a P/E ratio of 11.76 and a beta of 1.39. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The business’s 50 day moving average price is $24.66 and its two-hundred day moving average price is $24.35.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Sell-side analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. DA Davidson upped their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

Institutional Trading of Photronics

A number of institutional investors and hedge funds have recently made changes to their positions in PLAB. US Bancorp DE boosted its holdings in shares of Photronics by 137.2% in the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares in the last quarter. Quarry LP grew its position in Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the last quarter. GAMMA Investing LLC raised its stake in Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Palouse Capital Management Inc. acquired a new stake in shares of Photronics in the 2nd quarter valued at approximately $75,000. Institutional investors own 88.38% of the company’s stock.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.